SK Innovation launches two new subsidiaries

5:44 AM MDT | July 1, 2013 | Natasha Alperowicz

SK Innovation said today that it has launched 2 subsidiaries, SK Incheon Petrochem and SK Trading International. The company said in May that it would spin off its Incheon refinery complex and oil trading division into two entities. SK Incheon Petrochem is spending 1.6 trillion Korean won ($1.4 billion) to expand petrochemicals production, including construction of a previously announced para-xylene complex. The company said last year that it would build a 1.3-million m.t./year p-xylene plant by the second half of 2014. SK Trading International, meanwhile, plans...